Single-Tenant NNN
For Sale
Contact for pricing
2814 Terrell Road, Greenville, TX 75402
Commercially zoned office occupied by a State Farm insurance agency along an established retail corridor.
Property Size2,737 SF
Price / SF$218.85
Days on Market8
Property Features for 2814 Terrell Road
General Information
Standard status
Active
Size
2,737 SF
Property subtype
Office
Zoning
Commercial
Lease Type
NN
Investment Type
Sale/Leaseback
Net Operating Income
$41,055
Building Details
Year Built
1984
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
KARE | Investment Sales & Leasing
(469) 471-6413
Listed By:
Karan Aulakh, CCIM · License #731346
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 11 at 7:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KARE | Investment Sales & Leasing
Investment Insights
Based on property information with market context.
This 2,737-square-foot office property was constructed in 1984 and is occupied by a single State Farm insurance agency. The business provides insurance and financial services, including auto, homeowners, renters, life, health, pet, and business coverage. The offering is structured as a net lease sale-leaseback opportunity.
The property sits at 2814 Terrell Road in Greenville, Texas, along a commercial corridor surrounded by established national and regional retailers. The agency has operated in the local market for more than 30 years, providing a long operating history for the current occupant. Commercial zoning supports the property’s existing office use.
The property sits at 2814 Terrell Road in Greenville, Texas, along a commercial corridor surrounded by established national and regional retailers. The agency has operated in the local market for more than 30 years, providing a long operating history for the current occupant. Commercial zoning supports the property’s existing office use.
Key Highlights
- 2,737 SF office property constructed in 1984
- Single‑tenant net lease sale‑leaseback opportunity
- Occupied by a State Farm insurance agency
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,710
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$694,200
$694.2K
Cap Rate 7%
$495,857
$495.9K
Cap Rate 9%
$385,667
$385.7K
Market Conditions
NOI Build-Up for 2,737 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.1K $21.96/SF
− Vacancy
−$13.8K −$5.05/SF
EGI
$46.3K $16.91/SF
− OpEx
−$11.6K −$4.23/SF
NOI
$34.7K $12.68/SF
Area
Hunt County, TX
Vacancy
23.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$694,200
Cap Rate 7%
$495,857
Cap Rate 9%
$385,667
Alternative Uses
Best Use
Office B
$495.9K
$433.9K – $578.5K
NOI $34,710 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.72M
$2.38M – $3.17M
NOI $190,376 @ 7.0% cap · market cap 31.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 75402, TX
18,983
Population
8,024
Households
2.4
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
90.8 sq mi
ZIP Area
209
Density / Sq Mi
$77,602
Median Household Income
$46,076
Median Earnings
$1,414
Median Rent
$252,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Commercially zoned office occupied by a State Farm insurance agency along an established retail corridor.
Where is this nnn property located?
The property is located at 2814 Terrell Road Greenville, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,737 SF office property constructed in 1984; Single‑tenant net lease sale‑leaseback opportunity; Occupied by a State Farm insurance agency
